Refinancing can offer plenty of pluses, potentially providing a lower home loan rate, access to home equity or a loan with features better suited to your needs.

There are costs involved with refinancing so you need to weigh up the short term cost against the long term gain.

Consolidating your debts into one loan is a popular reason for refinancing but it's important to pay off your new loan as quickly as possible to reduce the overall interest cost.

The process of refinancing is quite straightforward and you won't need to provide proof of savings.

With a wide choice of loans available you need to consider the type of loan that suits you best.

Have a clear idea of the costs and features a loan provides before you commit to it.

Useful calculators

The Aussie website has several useful calculators to help you decide whether refinancing is right for you. You may find it useful to take a look through our calculators before speaking with an expert Aussie Mortgage Broker.

Borrowing Calculator – shows how much you may be able to borrow based on your salary and living costs

Loan Repayment Calculator – shows the monthly principal and interest repayments and total interest cost for the home loan size of your choice

It’s never too early to chat to a broker.

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The fine print

Aussie does not provide any financial or investment advice. This document has been prepared as a factual guide only. It does not take account of your objectives, financial situation or needs. Aussie recommends that you seek independent financial advice and obtain your own professional legal and taxation advice before making an investment decision.